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20110731
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're going to have to push the big changes to deal with the deficit and debt, going to have to go down the road a bit and to the long term, maybe more than ten years? >> chris, i don't know about more than ten years, but certainly as you know, simpson boles, senator simpson and former chief of staff irskin boles, in their report they proposed making substantial cuts, raising revenues and across the board with all items of expansion. but they said in the near term, meaning the next year of so, we need to be very careful that we did not have the opposite effect by dampening down the struggling economy, obviously, as we saw today, which will decrease revenues and make the problem worse, not better. so in the short term, i agree with the bowles-simpson suggestion that we be very careful in the short term. there's no doubt, however, in the white house yesterday, or thursday -- yesterday -- there was a clear agreement that this was a serious, serious challenge that confronted us and it demanded at all of us try to come together and reach an agreement whereby we will certainly over the next 1
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